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Started By
Message
1
Posted on 3/14/25 at 12:43 pm to GreatLakesTiger24
quote:
You got kids in their 20s wanting 5 bedroom houses with pools to show off online.
this is complete and utter nonsense
I mean I bought my first house when I was 25, just married, no kids. It was a 5br for 260K. Now its full of kids and worth about 700K...
Posted on 3/14/25 at 12:43 pm to TurkeyBaconLeg
quote:
Right now the home buyer is dealing with a variety of things that make it difficult to purchase a home.
-Inflation has whittled away everyone’s savings. That hurts when trying to come up with a 5-20% down payment
"Inflation"?
In the 12 years from 1970 to 1982, inflation averaged 8.4% per year - FOR 12 YEARS.
In the last 12 years, one year had a rate of 8%, the average over the period is 2.6%.
You kids crying about inflation have no idea.
And only a 5% down payment? Unheard of in 1980. Try saving for 20% down when you can expect 8% inflation every year.
Posted on 3/14/25 at 12:45 pm to Lightning
quote:Very similar. Young people voted for carter in 1976. Then they paid the piper when it came time to buy a home in the 80's. Young people today that voted against the Big Orange Meanie in 2020 are paying the piper today.
Lightning
Posted on 3/14/25 at 12:45 pm to 4cubbies
quote:Yep. Especially when you ignore downpayment requirements and interest rates.
Seems a bit absurd to look at these charts and claim people in 1985 paid a higher percentage of their incomes toward their mortgages
No only do you have a single-variable model... you have one that doesn't even include any data for the conclusion you have drawn.
Impressive.
Posted on 3/14/25 at 12:46 pm to RollTide4547
quote:
So those poor, mistreated, misfortunate, wittle victims can't leave those evil boomers home and stand on their own 2 feet?
Read what you wrote again. I'm commenting on the terrible grammar.
Posted on 3/14/25 at 12:47 pm to the808bass
quote:And add more subsidies for "first-time" buyers. It's the only way to combat these rising prices.
We should definitely raise the minimum wage.
And lower interest rates.
Posted on 3/14/25 at 12:49 pm to crazy4lsu
quote:Thanks. Glad the grammar police are out in full force. That's the most important part.
Read what you wrote again. I'm commenting on the terrible grammar.
Posted on 3/14/25 at 12:51 pm to CAD703X
quote:
Just find something. Anything. Start the clock on home ownership. Best thing you can do.
This. All day. Land a mobile home if you must but anything.
Posted on 3/14/25 at 12:54 pm to RollTide4547
quote:
Thanks. Glad the grammar police are out in full force. That's the most important part.
Well, you don't want to engage with the macro-level population trend, which is more meaningful especially when the country has 120 million more people in it than it did in the early 80's, so I'll comment on the grammar. Good talk.
Posted on 3/14/25 at 12:59 pm to LARancher1991
quote:
I believe have the mind set up work now and enjoy life when you retire, where the younger generation has the mindset of enjoy life now cause who knows if you will get to enjoy it later
This is as old as the fable of the ant and the grasshopper. It’s been happening since the dawn of man
Posted on 3/14/25 at 1:01 pm to Taxing Authority
quote:I have the interest rates in there and they were much worse int he early 80's. Let's take 1983
Especially when you ignore downpayment requirements and interest rates.
1983 24550 75300 13.24 847.12 41.41%
20% down on 75300 would be 15,600 that's 63.5% of median annual income in 1983.
2023 80610 419200 6.81 2735.66 40.72%
Now look at 2023 20% of 419200 would be 83840 that's 104% of annual salary. More yes, but those in 1983 were paying 7% more a year. At the end of the 1st year of home ownership, those in 1983 have paid an additional 5K + in interest (or 20% of their annual salary). The next year similar. In 2 years they have more than made up the difference (percentage wise) because the down payment is a one time payment and the interest is continuous.
Posted on 3/14/25 at 1:02 pm to crazy4lsu
quote:I don't care what the trend is. In life, if you can't get what you want (that you truly want) where you are currently located make a change and MOVE. Be proactive and responsible for yourself and your wants. Don't wait on someone else to fix things for you.
Well, you don't want to engage with the macro-level population trend,
This post was edited on 3/14/25 at 1:06 pm
Posted on 3/14/25 at 1:07 pm to Taxing Authority
quote:Your solution is to take from others and give to those wanting a house?
And add more subsidies for "first-time" buyers. It's the only way to combat these rising prices.
Posted on 3/14/25 at 1:10 pm to RollTide4547
quote:
I don't care what the trend is.
What do you think the data you posted suggests? It is a trend, which is complicated by the fact that time moves forward and things change.
quote:
In life, if you can't get what you want (that you truly want) where you are currently located make a change and MOVE.
Great, but no one is listening to you in particular. There is no evidence that companies are moving from coastal regions towards the underdeveloped areas of the country. It's actually the opposite. People will go where the work is. That is the reality of the situation.
Posted on 3/14/25 at 1:11 pm to BhamTigah
quote:
Thanks Covid and Biden.
Everyone blames Biden and Covid. Trump was equally bad, and contributed to the influx of money. You guys forget it. They were both terrible.
Trump Administration:
CARES Act: $2.2 trillion
Consolidated Appropriations Act: $900 billion
Total: $3.1 trillion in 2020
Biden Administration:
American Rescue Plan: $1.9 trillion
Infrastructure Investment and Jobs Act (Indirect pandemic recovery): $1.2 trillion
Total: $3.1 trillion in 2021 (with the majority of the spending directly related to COVID-19 recovery in the ARP).
Posted on 3/14/25 at 1:11 pm to Taxing Authority
quote:
No only do you have a single-variable model... you have one that doesn't even include any data for the conclusion you have drawn.
Without the condescension and sarcasm.. what?
Posted on 3/14/25 at 1:14 pm to crazy4lsu
quote:Then they are doing what they WANT and CHOOSE to do. They need to grow up, stop complaining and accept the reality of their choices. I commute 67 miles each way to work, by my own choice because I want to live in the country. Not once have I ever complained about not having my farm closer to my work.
People will go where the work is. That is the reality of the situation.
Posted on 3/14/25 at 1:17 pm to RollTide4547
You assume everyone has access to a private vehicle. Public transportation is basically nonexistent or extremely limited in suburbs. How are people supposed to get from their cheap housing to the city where the job is?
Posted on 3/14/25 at 1:18 pm to RollTide4547
quote:
Then they are doing what they WANT and CHOOSE to do.
You have a plagued version of what those words mean.
quote:
They need to grow up, stop complaining and accept the reality of their choices.
You should do the same with respect to the reality of everything else.
quote:
I commute 67 miles each way to work, by my own choice because I want to live in the country.
Cool? Not really instructive with respect to the trend you brought up, but okay.
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